669,995 Shares in GeneDx Holdings Corp. (NASDAQ:WGS) Acquired by William Blair Investment Management LLC

William Blair Investment Management LLC bought a new position in GeneDx Holdings Corp. (NASDAQ:WGS - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 669,995 shares of the company's stock, valued at approximately $51,496,000. William Blair Investment Management LLC owned approximately 2.44% of GeneDx as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Barclays PLC raised its stake in shares of GeneDx by 346.3% in the 3rd quarter. Barclays PLC now owns 18,921 shares of the company's stock valued at $803,000 after acquiring an additional 14,681 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in shares of GeneDx in the third quarter worth $325,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of GeneDx by 304.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 147,034 shares of the company's stock worth $6,240,000 after buying an additional 110,666 shares during the period. Franklin Resources Inc. bought a new position in GeneDx in the 3rd quarter worth $301,000. Finally, Principal Financial Group Inc. acquired a new stake in shares of GeneDx in the third quarter valued at about $604,000. 61.72% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on WGS shares. The Goldman Sachs Group increased their target price on GeneDx from $70.00 to $80.00 and gave the company a "neutral" rating in a research note on Wednesday, February 19th. TD Cowen boosted their price target on GeneDx from $75.00 to $118.00 and gave the company a "buy" rating in a research note on Tuesday, January 7th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $72.33.

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GeneDx Price Performance

NASDAQ WGS traded up $7.68 on Friday, hitting $104.39. 704,717 shares of the company were exchanged, compared to its average volume of 617,271. The company has a current ratio of 2.40, a quick ratio of 2.27 and a debt-to-equity ratio of 0.25. The company has a market cap of $2.93 billion, a P/E ratio of -53.26 and a beta of 1.91. GeneDx Holdings Corp. has a 1-year low of $8.10 and a 1-year high of $115.60. The firm has a 50 day moving average of $84.59 and a two-hundred day moving average of $71.15.

GeneDx (NASDAQ:WGS - Get Free Report) last announced its earnings results on Tuesday, February 18th. The company reported $0.70 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.04 by $0.66. The company had revenue of $95.64 million for the quarter, compared to analyst estimates of $82.24 million. GeneDx had a negative net margin of 17.12% and a positive return on equity of 3.33%. On average, equities analysts predict that GeneDx Holdings Corp. will post 0.97 EPS for the current year.

Insider Activity

In related news, CFO Kevin Feeley sold 1,430 shares of the business's stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $76.04, for a total transaction of $108,737.20. Following the completion of the sale, the chief financial officer now directly owns 26,770 shares of the company's stock, valued at $2,035,590.80. The trade was a 5.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Katherine Stueland sold 51,420 shares of the firm's stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $94.48, for a total transaction of $4,858,161.60. Following the completion of the transaction, the chief executive officer now directly owns 1,720 shares in the company, valued at approximately $162,505.60. The trade was a 96.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 127,735 shares of company stock valued at $11,719,787 over the last 90 days. 27.30% of the stock is owned by company insiders.

About GeneDx

GeneDx Holdings Corp., through its subsidiaries, provides genomics-related diagnostic and information services. The company offers Centrellis, an AI-driven health intelligence platform that integrates digital tools and artificial intelligence allowing scientists to ingest and synthesize clinical and genomic data to deliver comprehensive health insights.